Erste Group generates net profit of 783 mn euros in Corona-impacted year
- Operating result stable, but risk provisions weigh on net income
- Growth in loans and deposits across all markets
- Management board to propose dividend of 0.50 euros per share at AGM; up to 1.00 euros per share reserved for potential dividend at a later date
Erste Group, the leading lender in Central and Eastern Europe, ended the Corona year 2020 with a solid operating result of 2.9 billion euros (-1.3% year-on-year). The stock exchange-listed banking group formed almost 1.3 billion euros in risk provisions for impending loan losses in the aftermath of the pandemic. As a result, net income fell by 46.7% to 783 million euros. Customer loans, on the other hand, increased by 3.6% to 166.1 billion euros and customer deposit volumes rose by 9.9% to 191.1 billion euros. The common equity tier 1 ratio (CET1, final) rose again, from 13.7% to 14.2%.
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